Philosophical theories on the nature and origins of morality (that is, theories of meta-ethics) are broadly divided into two classes: Moral realism is the class of theories which hold that there are true moral statements that report objective moral facts.
As an S corporation, no corporate income tax would be levied. And when the income gets allocated to individual shareholders, they will probably pay a maximum rate of 40% to 44%. So that would mean around $400,000 to $440,000 in income taxes and then about $600,000 in leftover after tax profit.
3. New York State/City: You can have an S-Corp for federal and New York State tax purposes, but New York City will disregard your S-Corp tax status and treat it as a C-Corp, a regular corporation. That means your S-Corp owes NYC General Corporation Tax (GCT) of 8.85% on net income.